The closure of borders translated into the lack of mobility and the impact of it affected the automotive industry.
The first three month Movement Control Order that was implemented last March saw Malaysia record 141 sales of cars in April 2020, recording a 99.7 percent decline. The lockdown also had a spillover impact on the demand for tyres.
“It was evident that business for all sectors were very much impacted by the pandemic, and the tyre industry was not spared. However, we saw a rebound in H2 2020 as Malaysians were eager to travel once again after lifting of travel restrictions,” says Oliver Biggart, Managing Director of Michelin Malaysia, Singapore and Brunei.
Now that the second wave of lockdown is beginning to ease up to allow for short-distance travel within the state, Michelin is confident the automotive industry will continue to improve in the coming months.
While a third lockdown has been imposed, it has not been as severe as the initial two. Malaysians are still allowed to drive to work and to buy the necessities.
“Motion and mobility are highly linked to our social interactions, our sense of enjoyment and adventure, as well as the transport of people and goods.My first observation and learning from this pandemic is that people desire and require mobility, now more than ever,” he says.
His second outlook for the short to medium term ahead is that the pandemic will realign the balance for mass and private transportation.
This story is from the July 2021 edition of Business Today Malaysia.
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This story is from the July 2021 edition of Business Today Malaysia.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
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